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Impact Investing

IPE special report May 2018

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Mandate roundup: IPE Quest, Oxfordshire County Council, Draka UK

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  • Mandate roundup: IPE Quest, Oxfordshire County Council, Draka UK

EUROPE - A European insurance company has tendered a $25m-40m (€18m-29m) value equity mandate, using IPE Quest.

The company ask that applicants for search QN1211 have at least three years' track record to manage such mandates.

The active equity mandate will see the MSCI World index applied as a benchmark, but other benchmarks will also be considered.

The insurance firm will have a preference for a segregated portfolio, but is also willing to accept UCITS III-compliant portfolios.

Companies interested in applying will preferably have at least $500m of assets in similar mandates.

Interested parties should state their performance gross of fees to the end of September, applying by 31 October.

In other news, the Oxfordshire County Council pension fund is looking to award a £150m (€171.4m) global equity portfolio mandate.

Applicants will be expected to manage an active unconstrained global equity portfolio, applying segregated solutions preferably.

However, the pension scheme will also consider pooled options.

The scheme is seeking a minimum return of the FTSE All World (MSCI World or MSCI ACW) plus 2% a year, gross of fees.

One manager will be selected only, and the scheme will award the tender on the basis of the most economically advantageous offer.

The fund manager will have at least three years' track record, but neither hedge funds nor long/short funds will be considered.

Interested parties should apply before 25 November.

Lastly, the trustees of the Draka UK Pension Plan (Draka) have appointed SEI to provide fiduciary management services for the defined benefit pension plan, representing approximately £60m in assets.

The decision comes following a formal review process conducted by KPMG Investment Advisory, which wanted to implement a process that allowed for more fluid changes to the portfolio and protected improvements in funded status by managing liability risks on an ongoing basis.

KPMG was also appointed by the pension fund's trustees to provide advisory services.

The firm assisted in managing a request for proposal (RFP) and individual site visits.

The trustees cited SEI's extensive track record in providing fiduciary management services, as well as its overall focus on client service.

Alex Carter, Draka trustee and finance director, said: "The trustees of Draka's pension decided to appoint a fiduciary manager because we were keen to find a governance approach that would allow us to de-risk the pension plan and more effectively manage the assets against the liabilities."

The IPE.com news team is unable to answer any further questions about IPE Quest tender notices to protect the interests of clients conducting the search. To obtain information directly from IPE Quest, please contact Jayna Vishram on +44 (0) 20 3465 9330 or email jayna.vishram@ipe-quest.com.

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    Asset region: Asia Pacific.
    Size: Approx. CHF 70-100m per investment.
    Closing date: 2018-05-25.

  • QN-2438

    Asset class: High Yield Bonds.
    Asset region: US.
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